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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Bruce Brown who wrote (32633)9/30/2000 9:31:11 AM
From: Mike Buckley  Read Replies (1) of 54805
 
Bruce,

You raise an interesting point about using shares from having sold Vantive in the Front Office Game to immediately purchase Siebel shares. Because it was a relatively small amount of money that was generated from the sale of Vantive, I didn't pay a lot of attention to it. In fact, I didn't get around to using those funds to purchase Siebel shares until about six months later. In that sense it really is a real-life model of how we manage portfolios when we have another life to manage as well. :) The point is that the Front Office Game would be showing even better returns had I stuck to the timeliness of all the rules. The corollary is that, despite the mistakes I've made in judgement and implementation, the Front Office Game has done very, very well.

In terms of the Game's total value, your point about making use of the tax loss generated by selling Vantive would be more than offset (to a huge magnitude) by the capital gains tax paid when Remedy and Clarify were sold. The reason I don't include taxes in the model is because all of us have different tax consequences depending on our personal situation. By eliminating that issue I think the game is more educational.

--Mike Buckley
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